Investors aren’t impressed with Dubai’s biggest developer. Shares of Emaar Properties PJSC, which developed the Burj Khalifa skyscraper, have plunged 39 percent this year, Bloomberg reported. It’s price-to-earnings ratio is at the lowest level since 2009. That’s thanks to a difficult local real estate market — as a supply glut coincides with lower demand. And a recovery doesn’t seem imminent, the report said. Emaar had the lowest quarterly profit in almost three years in the […]
source https://therealdeal.com/2018/12/06/dubais-biggest-developer-is-struggling-to-win-over-investors/
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